$SEI is keeping everyone on their toes! Is this recent bounce the start of a massive comeback, or are we just walking into another liquidity trap? đȘ€
According to industry sources, fresh headlines about the Giga Upgrade (SIP-3) and the transition to an EVM-only chain have dragged attention back to the ecosystem. We saw a decent reaction off the recent lows, but letâs be real: price is still trading well below the last major dump zone, which means sellers are still lurking in the shadows. đ”ïžââïž
đ Technical Breakdown
Market Structure: On the 4H chart, the structure remains cleanly bearish with a sequence of lower highs and lower lows. đ
Resistance: The current leg up is stalling near a local volume node around 0.078.
Momentum: The RSI is already pushing into the 60s and starting to curl down, suggesting the "easy" part of the bounce might be over.
Demand Zone: If we don't break resistance, Iâm leaning toward a short-term pullback into the green demand area near 0.071â0.069.
đŻ My Trading Plan
Note: Chasing breakouts into resistance during a downtrend is basically volunteering as liquidity for the sharks. đŠ
The Bullish Scenario: Buyers must punch through 0.08 with real volume. If that happens, we could see a squeeze toward 0.085â0.09.
The Patient Scenario (My Choice): Iâd rather hunt for longs closer to the 0.069â0.071 zone. I'll be watching for a strong reaction and bullish RSI divergence there.
The Warning Sign: If 0.069 breaks convincingly, the bears stay in total control, opening the door for fresh lows below the current range.
Current Stats:
Price: 0.0743
24h Change: -4.86%
Ticker: #SEIUSDT (Perp)
Stay sharp and manage your risk! âĄïž
